A financial BLOG written by a DIY investor covering Singapore blue chips, dividend stocks, financial education, corporate news, money saving tips, book reviews and my journey to financial freedom. Currently managing a personal portfolio of more than SGD $1,000,000, I aspire to have an average cash flow of minimum $10,000 per month either through realised capital gains or dividends.

Saturday, January 17, 2009

Back to school!

I have finally enrolled in a Masters in Applied Finance this year! The letter of offer was signed and school fees paid yesterday.

This marks the beginning of an end of my current career and the commencement of a new path.

The choice of schools and master degree courses started last November and was narrowed to a reputable local institution. I have to consider between costs, academic tenure, possible sacrifices, standing of education institution, my future career path, Singapore’s future, current work commitments and my ability to cope with studies.

Initially I wanted to study in Australia, however the minimum period was 1.5 years and it will cost me at least $60,000 to complete it. After factoring the opportunity costs, it will add up to at least $160,000. Hence I decide to pursue my Masters on a part time basis. It will take at least 2.5 years to complete the course and I will be starting in February.

I could have studied in an extension field of subject from my first degree. However, as finance was my passion for the past 5 years, it seems a natural progression for me to study in this field. In fact, given a chance to start all over, I would have given up my scholarship and read Finance in the University.

Well, it is better late than never for both studies and investment.

I will have to keep studying a secret from my boss and colleagues as I do not want to be condemned as a traitor to my specialization and be seen as just the next sucker being lured by the allure of money.

The good thing to study during a financial crisis is that there is really few interested to study it! Class size will be small and tuition fees are unlikely to go north. I heard my first module has less than 20 students. I can always have the first opportunity to discuss with my lecturers on the latest development of the financial crisis. I like that!

Meanwhile, I need to condition myself to be content with less and cope with more.

There will be less leisure time for tv, sports, gym, dates and even blogging. I need to save more money and hence will have to cut down on restaurant outings, gadget indulgence and spa.

I will also have to plan my schedule more carefully, so that my work will not be noticeably affected by my studies. I cannot apply leave to travel overseas for extended period of time as I need to conserve leave for examinations preparation.

It takes a huge amount of energy to overcome the inertia to submit the application.

There will be more stress from grappling with work, financial commitments, bear market and studying.

I am sure I can overcome it. Afterall I am just aspiring to complete the Masters in Applied Finance, and not be the Masters of Universe!

10 comments:

Hi, the last time I checked, NUS/NTU doesn't offer Masters in Applied Finance. Could you reveal where you would be studying? SIM? Just asking cos' I have been thinking about studying for it as well. Thanks!

Hi RH, why would you want to target a degree course when you can enrol for a masters? You can also get an entry level job with a masters and even a PHD.

The higher your academic qualifications, the larger the spectrum of job you can do.

Self studying for CFA is tough and many do not have the discipline to perserve and clear all 3 levels.

MAF and CFA are overlapping in nature, it depends on your work commitment and academic background before you decide for it. MAF is not designed to prepare for CFA, it is to allow graduates to work in the finance industry.

CFA takes a min of 3 years to complete, many take more than that.

With a MAF, you would have a passport to enter the area of finance you are interested in. Job propects are really up to different individuals.

Singapore Blue Chips

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About Me

I am an ordinary Singaporean guy in my early thirties who is passionate about investing since 2003.
I live in a 4 room HDB flat and like many Singaporeans, dream of becoming a millionaire.
Currently I am an ordinary worker and have just completed my Masters. I aspire to build up a portfolio of 1 million dollars and derive a yearly recurring dividend income of 6% by 35.
The only way to achieve this aim is to work hard and invest prudently.
I invest in a variety of instruments such as unit trusts, stocks, REITS and foreign currencies mainly Australian dollars options.